Ann: Options Exercise, page-40

My original comment was more tailored to existing shareholders of IHL. There are a tonne of options to be converted and you bet alot of them would not just have that sort of cash lying around. So they would sell the heads on market to fund the exercise of the oppies. Have to be careful buying oppies here unless you already have stock (that you are selling now) as there would be alot of selling pressure. If the discount was bigger I would definitely pick up a few more.